Business

Moj, ShareChat owner to buy back $19.1 mn ESOPs

Mohalla Tech, the holding company of short-video app Moj and Indian language social-media platform ShareChat, has announced its first ESOP buyback programme worth $19.1 million (about ₹140 crore).

The announcement comes after the company recently raised over $500 million, taking its valuation to $2.1 billion. Almost 200 existing and former employees with vested options are eligible to participate in this process and can sell up to 100% of their allotment.

The new vesting policy would allow all the qualified employees to vest 25% of ESOPs in the first year, followed by 8.25% every quarter.


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Printable version | Aug 5, 2021 9:13:48 PM | https://www.thehindu.com/business/moj-sharechat-owner-to-buy-back-191-mn-esops/article34852333.ece

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